The EU and the US have reached a framework trade agreement that sets a blanket 15% tariff on goods traded between them, ending a months-long stand-off.Single 15% tariff rate applies across most sectors0% for 0% tariffs on a number of products, including all aircraft and parts, semiconductor equipment, certain chemicals, certain generics, certain agriculture products, natural resources and critical raw materials and morework to add more products to list still to be doneagreement averts the 30% tariff previously threatened by the US administration.EU concessions:It agreed to not impose retaliatory tariffs.It pledged $600 billion in investment in the US, though the timeline and specifics are undefined.The EU entered talks seeking a better deal than the 10% tariff the UK accepted in May. After US–Japan talks resulted in a 15% baseline, the EU followed suit. EU officials acknowledged the limited leverage they had compared to the US.--Trump met with European Commission President Ursula von der Leyen in Scotland.Trump:“This is the biggest one of them all” EU will agree to purchase $750 billion of energyEU will invest $600 billion more than planned in the U.S.tariff rate applying to imports from the EU would be 15%Von der Leyen:15% would be a ceiling ratethe same rate applying to cars, pharmaceuticals and semiconductorstariff treatment for alcoholic beverages has still to be worked outEurope would replace Russian gas with purchases of energy from the U.S. with purchases of $250 billion per year for the rest of Trump’s termEUR/USD has been marked higher in early FX dealings:Monday open levels, indicative FX prices, 28 July 2025 - EUR up on US/EU 'framework' dealOther news of note:US and China to extend tariff pause by another 90 days - report This article was written by Eamonn Sheridan at investinglive.com.